Delaware Corporate Legislation Tracker

I think it is safe to say the Delaware Legislature will be busy over the next two weeks...

The Delaware Corporate Legislation Tracker is a free service, designed to keep you up to date on current and pending legislation related to Delaware Corporate rules and regulations. Here is the latest installment:

The following Legislation affecting Title 5 - Banking was acted upon by the General Assembly on 6/16/2009:

SB 155 Title: AN ACT TO AMEND TITLE 5 OF THE DELAWARE CODE RELATING TO TRUSTS.

Synopsis:Revised Section 924(a)(1) is intended to expand the scope of beneficiaries permitted under a so-called “Totten Trust” to include non-profit organizations qualified under Section 501(c)(3) of the Internal Revenue Code. It is expected that the expansion will offer additional estate planning alternatives that could benefit the non-profit community and will align Delaware law with FDIC insurance regulations, including the types of beneficiaries now permitted on Totten Trust accounts for purposes of FDIC insurance coverage.